In this episode of the Acquisition Collective, I sit down with Ben Surdi to discuss his incredible journey from launching PureDry Restoration to scaling it into a multi-million-dollar business and exiting for $40M to private equity—with no earnout!

We Cover:
✅ How Ben started in carpet cleaning and pivoted into restoration
✅ The challenges of acquiring a business with hidden debt
✅ Scaling from $3M to $16M in revenue and tripling EBITDA
✅ Private equity deal structuring – 47 letters of interest, 27 LOIs, and securing the best offer
✅ How to negotiate all-cash exits and maximize your second bite of the apple
✅ What makes restoration businesses attractive to buyers & how to prepare for a sale
✅ The emotional toll of selling and adjusting post-exit

This is a must-watch for anyone interested in business acquisition, home services, and private equity-backed exits!

🕒 TIMESTAMPS:
00:00 - Intro: From Carpet Cleaning to Restoration Empire
02:20 - Acquiring a Restoration Business: A Costly Mistake
05:06 - Overnight Business Theft & Hidden Tax Debt
07:41 - Scaling to an Inc. 5000 Business & Hitting $16M in Revenue
10:48 - Attracting Private Equity: 47 Buyers, 27 LOIs, & a $40M Offer
13:36 - The Due Diligence Process: Avoid These Pitfalls
16:32 - Maximizing Your Exit & Negotiating a Higher Multiple
20:12 - Post-Acquisition Struggles & Private Equity Integration
23:14 - The Emotional Journey of Selling Your Business
26:39 - Lessons from the Exit: What Ben Would Do Differently
30:06 - Strategies to Make Your Business Irresistible to Buyers

💡 KEY TAKEAWAYS FROM THIS EPISODE:
💰 Building a Sellable Business in Home Services

Ben started PureClean Carpet Cleaning in 2011 and later expanded into water damage restoration after acquiring a small company.
A lack of due diligence led to inheriting $316,000 in tax debt and a business owner who later stole equipment and fled.
Instead of shutting down, Ben immersed himself in the business, scaled aggressively, and built a dominant brand in Washington State.
📈 Scaling & Attracting Buyers

Grew revenue from $3M to $16M with 25%+ net margins.
Consistently ranked on the Inc. 5000 list and leveraged PR to position the company as a high-growth leader.
Built a brand with strong SOPs, top-tier branding, and a scalable model—key factors that attracted private equity buyers.
🛠️ Private Equity & The $40M Exit

Hired an investment banker to create a competitive bidding process—leading to 47 LOIs and a $40M all-cash offer with no earnout.
Negotiated to roll $10M into the acquiring firm for future upside, a move that is now paying off with an upcoming 22x multiple exit.
What made Ben’s business attractive to buyers? Strong brand presence, independent management, and an aggressive growth trajectory.
🚧 Post-Acquisition Challenges & Lessons Learned

🔗 Follow Ben Surdi:
👉 Facebook: https://www.facebook.com/bensurdi
👉 Instagram: https://www.instagram.com/bensurdi/

🎙️ ABOUT YOUR HOST: JAY BOURGANA
I'm Jay Bourgana, founder of Acquisition Collective, where we help entrepreneurs buy, grow, and exit businesses. If you're looking to acquire a company or scale a home services business, this channel is for you!

💼 JOIN ACQUISITION COLLECTIVE 👉 https://www.acquisitionscollective.biz/

🔗 Follow me for more insights on business acquisitions & private equity:
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📍 Twitter/X: https://x.com/JayBourgana
📍 Instagram: https://www.instagram.com/jbourgana/

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